Press Releases

The Centre, states and all the Union Territories need to evolve a consensus on the lines of the Goods and Services Tax for shifting to January-December financial year and move to the new system in one go throughout the country instead of some select states choosing to shift to a new financial year, creating practical difficulties for trade and industry, ASSOCHAM has said today.

The most economically developed states are not adequately adding to skill sets , which may result in the severe shortages of skilled manpower in the coming years, with Maharashtra leading the table followed by Tamil Nadu, according to an ASSOCHAM-Thought Arbitrage Paper.

Government has recently approved a scheme for enhancing the Tertiary Care Cancer facilities in the country under NPCDCS to grant financial assistance to 20 State Cancer Institute’s and 50 Tertiary Cancer Care Centres in different parts of the country, Ms Anupriya Patel, Minister of State for Health & Family Welfare said at an ASSOCHAM event held in New Delhi today.

The financial regulators have to open up their space in a bigger way for developing a vibrant debt market in India in the next three years, a top Securities Exchange Board of India (SEBI) official said at an ASSOCHAM event held in Hyderabad today.

As the Narendra Modi is about to complete three years in office, its biggest achievement on economic front would be the Goods and Services Tax which is near a roll-out, while financial inclusion, digitisation and public investment on infrastructure like railways and power distribution are perceived as other credible steps for structural changes in the economy, the ASSOCHAM has said.

ASSOCHAM has approached the RBI with a plea that the provisioning criteria for the non-performing assets (NPAs) in the case of proposed Wholesale Long-Term Finance (WLTF) banks should be based on stress tests of each of the funded projects, unlike the present standard provisioning norms due to a different nature of the long term, big ticket industrial or infrastructure projects to be covered by WLTF lenders.

Apex industry body ASSOCHAM has mooted a proposal to the newly elected government of Punjab for announcement of comprehensive industrial policy to bring back the glory of ‘Sher-E-Punjab’ hub for small medium enterprise (SMEs) and value addition to agriproducts.